RIDCOR ties up Rs 814 cr for 7 road projects
Road Infrastructure Development Company of Rajasthan (RIDCOR), which is a 50:50 joint venture between Infrastructure Leasing & Financial Services and Rajasthan government today said it has tied up Rs 814 crore for the seven big size road projects in the state.
"RIDCOR has achieved financial closure for seven road projects under the Mega Highways Project in Rajasthan," IL&FS Transportation Networks, which holds stake in RIDCOR, said.
The cost of the project (seven roads project) as per loan agreements is Rs 814 crore.
Allahabad Bank is one of the main bankers for the loan agreement.
The project is on toll basis with a concession of 32 years, including construction period of two years.